Petrobras has agreed to acquire a 50% interest in the Itaimbezinho exploration block in the Campos Basin offshore Brazil from Equinor.Equinor currently holds a 100% stake in the block. Upon completion of the transaction, the consortium will consist of Equinor as operator with a 50% interest, Petrobras with 50%, and Pré-Sal Petróleo S.A. (PPSA) as manager of the production sharing contract.Petrobras…
Britain has offered grid connections to more than 700 projects, the country's power planning body said on Wednesday, under a reformed allocation system expected to help unlock up to £40 billion in annual clean power investment.The allocations follow recent reforms replacing a 'first come…
Caspian Offshore Construction (COC) has acquired an anchor handling tug supply (AHTS) vessel from Sinopacific Engineering & Contracting (SPEC), marking the first vessel in the SPA90 series to join the Kazakh offshore marine service provider's fleet…
Mitsui O.S.K. Lines (MOL) and Japan Airlines (JAL) have entered into an agreement with Lloyd's Register and U.S.-based REGENT Craft to jointly develop certification and operational approval processes for REGENT's fully electric Seaglider vessel…
COSCO Shipping Specialized Carriers has completed the transport and float-over installation of an offshore converter platform for the Qingzhou V & VII offshore wind project, a key milestone in what the company described as the world's first…
PXGEO has signed a one-year framework agreement with Equinor to conduct autonomous subsea inspection trials using Saab's Sabertooth Underwater Intervention Drone (UID) technology.The agreement will see the companies test and verify autonomous inspection capabilities…
TGS has signed an agreement with Equatorial Guinea's Ministry of Hydrocarbon and Mining Development to create a large-scale offshore multi-client seismic dataset, marking the first phase of what is planned to become a nationwide MegaSurvey covering the country's offshore basins…
EnQuest has agreed to acquire interests in four offshore production sharing contracts (PSCs) in Malaysia for up to $833 million, a deal that would significantly increase the independent energy company's production, reserves and cash flow.The…
Egypt's Minister of Petroleum and Mineral Resources said on Wednesday that the full settlement of arrears owed to oil and gas partners marked a turning point for the sector.Badawi added that the achievement, which reduced arrears to zero from about $6…
Oil prices were steady on Wednesday, as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.Brent futures LCOc1 were up 25 cents, or 0.27%, to $91.70 a barrel at 0736 GMT, while U.S. West Texas Intermediate crude CLc1 was up 23 cents…
Shell and its partners QatarEnergy and Namibia's national oil company NAMCOR have reported encouraging results from the Merlin-1X exploration well in Petroleum Exploration License 0039 (PEL 0039) offshore Namibia, with the well delivering the…
Abu Dhabi National Oil Company is exploring opportunities in Canada's upstream and liquefied natural gas sectors through its international arm XRG, a senior company executive said on Tuesday at the Global Energy Show in Calgary.Musabbeh Al Kaabi…
Malysia’s Petronas and Japan's JERA have signed a new long-term liquefied natural gas (LNG) supply agreement that will extend their partnership into the 2040s.Under the agreement, Petronas, through its wholly owned subsidiary Petronas LNG (PLL)…
Norway's parliament on Tuesday ordered the government to review its planned subsidy for the country's first commercial floating offshore wind farm, raising concerns of a full development stop and a wider impact on energy transition projects…
Global offshore wind capacity is set to quadruple over the next decade to reach 420 gigawatts (GW) by the end of 2035, a report by the Global Wind Energy Council (GWEC) showed on Tuesday.Around 92 GW of offshore wind was installed by the end of 2025…
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